ARS Asiamet Resources Limited

 
TIDMARS 
 
 
   NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN 
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY 
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. 
 
   VANCOUVER, British Columbia, April 22, 2016 (GLOBE NEWSWIRE) -- Asiamet 
Resources Limited (the "Company") is pleased to announce that through 
clients of Optiva Securities Limited, its broker to the placement, the 
Company has received commitments to purchase 48,387,097 common shares at 
a price of GBP 3.1 pence per share for total gross proceeds of GBP1.5 
million (equivalent to approximately CDN $2.7 million at CDN $0.056 per 
share).  The placement was oversubscribed. The offering is a brokered 
private placement and the common shares will be issued and settled in 
CREST. 
 
   Asiamet Resources CEO Tony Manini commented: 
 
   "Following the recent release of our highly compelling PEA results for 
the BKM deposit, Asiamet is very pleased with the strong level of 
support it has received from both existing and new investors for this 
oversubscribed capital raising on terms considered to be favorable for 
all shareholders. 
 
   While very significant progress has been made in advancing Asiamet from 
a pure explorer to an explorer-developer over the past year, the Company 
considers that its assets are still substantially under-valued. As such 
we intend to push the BKM project through feasibility studies using a 
staged approach to progressively capture value for shareholders as 
various milestones are met.  Simultaneously we will be advancing 
discussions with potential funding partners at both the corporate and 
project level. 
 
   The 2016 program at BKM will focus on long lead time items for the 
bankable feasibility studies and exploration and resource drilling to 
increase potential mine life including: 
 
 
   -- Infill drilling to upgrade part of the BKM Resource to measured and 
      indicated confidence levels with the aim of demonstrating a +10 year life 
      for BKM 
 
   -- Further exploration work on high potential prospects BKS, BKW and BKZ 
      nearby BKM where excellent targets for additional copper mineralization 
      are demonstrated by strong surface and scout drilling results returned to 
      date 
 
   -- Additional drilling for metallurgy samples, stage 3 short and long column 
      copper leach testwork and Environmental Impact Assessment (AMDAL) 
 
   -- PFS level project option analysis, optimisation of the various inputs to 
      further enhance project economics, and value engineering studies 
 
   -- Finalising the Beutong and Jelai licence conversions from exploration to 
      production stage and continuing to work on establishing opportunities for 
      strategic or commercial partnering on both projects. 
 
 
   We look forward to building on the strong momentum established over the 
past year with a continued flow of news from ongoing work programs and 
corporate initiatives aimed at fast tracking development of the BKM 
project and simultaneously significantly enhancing value for 
shareholders." 
 
   Placing Details 
 
   The placement shares will be fully paid and will rank pari passu in all 
respects with the existing common shares in the Company.  Application 
has been made for the placement shares to be admitted to trading on AIM 
("Admission") and to be listed on the TSX Venture Exchange.  It is 
expected that Admission will become effective and that dealings in the 
placement shares will commence on April 27, 2016.  The total number of 
common shares in issue following completion of the placement will be 
622,984,168. 
 
   The private placement is subject to compliance with applicable 
securities laws and to the receipt of regulatory approval. The Company 
will pay broker fees in connection with the private placement in 
accordance with the policies of the TSX Venture Exchange.  The private 
placement will not be conducted in North America and the shares placed 
will be settled through CREST. 
 
   The Chief Executive Officer of the Company, Antony Manini, a Director 
and the Deputy Chair, notified the Company on 21 April, 2016 that he 
will acquire 322,581 shares of the Company at a price of GBP 3.1 pence 
per share as a participant in the placement. 
 
   Following the placement Mr. Manini will indirectly hold 14,902,199 
(2.4%) common shares in the Company by way of 6,483,566 common shares 
held by Antman Holding Pty Ltd and 8,418,633 common shares held by 
A.J.M. Investco Pty Ltd.  Mr Manini also directly holds 3,812,554 share 
purchase warrants (details below) and 3,000,000 options in the Company 
with an exercise price of CAD $0.05 per share and an expiry date of 
August 31, 2020. 
 
 
 
 
Warrants   Expiry Date  Ex. Price 
611,904    4-Jun-2016   C$0.06 
318,579    18-Jun-2016  C$0.06 
1,529,761  2-Oct-2016   C$0.10 
269,575    13-May-2017  C$0.12 
164,878    13-May-2017  C$0.12 
917,857    13-Apr-2019  C$0.10 
 
 
   ON BEHALF OF THE BOARD OF DIRECTORS 
 
   Tony Manini, Deputy Chairman and CEO 
 
   For further information please contact: 
 
   Tony Manini 
 
   Deputy Chairman and CEO, Asiamet Resources Limited 
 
   Telephone: +61 3 8644 1300 
 
   Email: tony.manini@asiametresources.com 
 
   FlowComms Limited 
 
   Sasha Sethi 
 
   Telephone: +44 (0) 7891 677 441 
 
   Email: Sasha@flowcomms.com / Mehrdad@flowcomms.com 
 
   Asiamet Resources Nominated Adviser 
 
   RFC Ambrian Limited 
 
   Andrew Thomson / Oliver Morse 
 
   Telephone: +61 8 9480 2500 
 
   Email: Andrew.Thomson@rfcambrian.com / Oliver.Morse@rfcambrian.com 
 
   VSA Capital Limited 
 
   Andrew Raca / Justin McKeegan 
 
   Telephone: +44 20 3005 5004 / +44 20 3005 5009 
 
   Email: araca@vsacapital.com 
 
   Optiva Securities Limited 
 
   Christian Dennis 
 
   Telephone: +44 20 3137 1903 
 
   Email: Christian.Dennis@optivasecurities.com 
 
   Neither the TSX Venture Exchange nor its Regulation Services Provider 
(as that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 
 
   United States Advisory 
 
   The securities referred to herein have not been and will not be 
registered under the United States Securities Act of 1933, as amended 
(the "U.S. Securities Act"), have been offered and sold outside the 
United States to eligible investors pursuant to Regulation S promulgated 
under the U.S. Securities Act, and may not be offered, sold, or resold 
in the United States or to, or for the account of or benefit of, a U.S. 
Person (as such term is defined in Regulation S under the United States 
Securities Act) unless the securities are registered under the U.S. 
Securities Act, or an exemption from the registration requirements of 
the U.S. Securities Act is available. Hedging transactions involving the 
securities must not be conducted unless in accordance with the U.S. 
Securities Act. This press release shall not constitute an offer to sell 
or the solicitation of an offer to buy any securities, nor shall there 
be any sale of securities in the state in the United States in which 
such offer, solicitation or sale would be unlawful. 
 
   This news release contains forward-looking statements that are based on 
the Company's current expectations and estimates. Forward-looking 
statements are frequently characterized by words such as "plan", 
"expect", "project", "intend", "believe", "anticipate", "estimate", 
"suggest", "indicate" and other similar words or statements that certain 
events or conditions "may" or "will" occur. Such forward-looking 
statements involve known and unknown risks, uncertainties and other 
factors that could cause actual events or results to differ materially 
from estimated or anticipated events or results implied or expressed in 
such forward-looking statements.   Such factors include, among others: 
the actual results of current exploration activities; conclusions of 
economic evaluations; changes in project parameters as plans continue to 
be refined; possible variations in ore grade or recovery rates; 
accidents, labour disputes and other risks of the mining industry; 
delays in obtaining governmental approvals or financing; and 
fluctuations in metal prices.  There may be other factors that cause 
actions, events or results not to be as anticipated, estimated or 
intended.  Any forward-looking statement speaks only as of the date on 
which it is made and, except as may be required by applicable securities 
laws, the Company disclaims any intent or obligation to update any 
forward-looking statement, whether as a result of new information, 
future events or results or otherwise. Forward-looking statements are 
not guarantees of future performance and accordingly undue reliance 
should not be put on such statements due to the inherent uncertainty 
therein. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Asiamet Resources Limited via Globenewswire 
 
   HUG#2005827 
 
 
  http://www.asiametresources.com 
 

(END) Dow Jones Newswires

April 22, 2016 02:00 ET (06:00 GMT)

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